President Bola Ahmed Tinubu has signed the 2025 Appropriation Bill into law, approving a record-breaking N54.99 trillion budget for the year.
This marks a 99.96% increase from the 2024 budget of N27.5 trillion.
The budget was passed by the National Assembly on February 13, after increasing it from the initial N49.7 trillion proposed by President Tinubu.
The signing ceremony took place at the State House in Abuja.
Here’s a breakdown of the 2025 budget:
- Total Expenditure: ₦54.99 trillion
- Statutory Transfers: ₦3.65 trillion
- Recurrent (Non-Debt) Expenditure: ₦13.64 trillion
- Capital Expenditure: ₦23.96 trillion
- Debt Servicing: ₦14.32 trillion
- Deficit-to-GDP Ratio: 1.52%
This budget is expected to drive economic growth and development in Nigeria.
